Correct - The Tuckabianna Gilt Edge plant came with the tenement package. The Joint Venture aquired the lot for $879,000 which represented the value of Westcoast's rehabilitation bond. An alternative option for the deal placed a value of $200,000 for the plant. I think your right that Ron Huston might be getting mixed up with Mercators Bluebird plant. However, if you had to set up all the Burnakura infrastructure at todays costs it might well have a replacement value near $20m.
Good luck to the new owners though - I hope they have the capital and the determination to make a go of it. A lot of the hard work has been done and the area still has potential to be quite profitable. They need to sort out the processing issues that foiled the JV by spending additional capital on plant and expertise.
Good finish on Friday for TTR lets hope it continues the momentum. The current price is great opportunity for those prepared to sit back and watch the current management guide the $2 billion dollar Phillips River polymetalic deposit into a successful long term project. I doubt we will see the stock back under 10 cents again. I think its been through the bad times and its all up and up from here. I make no apology for being a supporter of Tectonic and its management and the potential of Phillips River.
TTR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
